Camelot Inn - Exclusive off-market campaign delivers strong result

December 2011 - JLL was appointed by a private entity to conduct an off-market sale campaign for Camelot Inn, Brisbane. Previously a hotel, the property was converted into long stay accommodation in 2003, to which presented investors with an extremely rare opportunity to acquire a purpose built, vacant possession hotel.

Prior to commencing the campaign we undertook our own feasibility study of which provided interested parties with quality advice relating to the cost of the property’s refurbishment and subsequent trading and profit potential. In addition to this, we engaged JLL​’s retail leasing team to provide market insight for alternate use options for the building’s ground level as there was the potential to introduce a retail tenancy.

An informed and stream-lined campaign resulted with five offers received within two weeks. The property exchanged in December 2011 at a sale price of AUD12.5 million, which was well in excess of the vendor’s expectation.

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This property was our clients first foray into the QLD Market and his first freehold, traditional housing asset. We considered numerous options in numerous locations throughout South East Queensland but ultimately closed this deal late on a Saturday night after disregarding many other assets. Our client was pragmatic and remained focused on commercial outcomes and didn’t sweat the small stuff – the perfect investor mind-set. In the end our client has secured a great result and a worthy addition to his growing portfolio.